| Earnings Per Share |
7. EARNINGS PER SHARE
The following table presents information necessary to calculate diluted earnings per share (in thousands of dollars, except per share amounts):
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Three Months Ended
March 31, |
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Six Months Ended
March 31, |
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2012 |
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2011 |
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2012 |
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2011 |
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Net Income (Loss) |
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$ |
(6,500 |
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$ |
4,155 |
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$ |
(9,957 |
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$ |
(4,760 |
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Average Shares Outstanding |
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12,001,464 |
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11,896,085 |
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11,992,970 |
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11,870,914 |
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Effect of Incremental Shares Issuable from Assumed Exercise of Stock Options and Nonvested Restricted Stock Under the Treasury Stock Method (1) |
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— |
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253,125 |
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— |
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Adjusted Average Shares |
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12,001,464 |
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12,149,210 |
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11,992,970 |
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11,870,914 |
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Diluted EPS – Net Income (Loss) |
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$ |
(0.54 |
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$ |
0.34 |
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$ |
(0.83 |
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$ |
(0.40 |
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| (1) |
No assumed restricted stock share issuances or option exercises were included in the computation of diluted EPS for the three and six months ended March 31, 2012 and the six months ended March 31, 2011, because doing so would have an antidilutive effect on the computation of diluted earnings per share. Includes 211,541 shares of restricted stock and 41,584 stock options for the three months ended March 31, 2011. Excludes 449,868 antidilutive securities for the three and six months ended March 31, 2012, and excludes 1,085 and 549,108 antidilutive securities for the three and six months ended March 31, 2011. | |